Brokerages Set Coinbase Global, Inc. (NASDAQ:COIN) Price Target at $75.64

Coinbase Global, Inc. (NASDAQ:COIN) has been given a consensus recommendation of “Hold” by the twenty-six analysts that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $75.64.

COIN has been the subject of a number of research analyst reports. JMP Securities restated a “market outperform” rating and set a $107.00 price objective on shares of Coinbase Global in a research report on Thursday, August 17th. Citigroup cut their price objective on Coinbase Global from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, November 1st. Needham & Company LLC restated a “buy” rating and set a $120.00 price objective on shares of Coinbase Global in a research report on Thursday, August 17th. Compass Point raised their price objective on Coinbase Global from $100.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Finally, Canaccord Genuity Group lifted their price target on Coinbase Global from $70.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st.

Coinbase Global Stock Down 0.3 %

COIN opened at $92.64 on Friday. The company has a market capitalization of $22.16 billion, a PE ratio of -28.68 and a beta of 2.65. The firm has a 50-day simple moving average of $78.59 and a two-hundred day simple moving average of $74.70. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. Coinbase Global has a 52 week low of $31.55 and a 52 week high of $114.43.

Insider Activity

In other news, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $78.38, for a total transaction of $89,745.10. Following the sale, the director now directly owns 12,848 shares of the company’s stock, valued at $1,007,026.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Lawrence J. Brock sold 19,814 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $78.34, for a total transaction of $1,552,228.76. Following the sale, the insider now directly owns 11,019 shares of the company’s stock, valued at $863,228.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $78.38, for a total transaction of $89,745.10. Following the sale, the director now directly owns 12,848 shares in the company, valued at $1,007,026.24. The disclosure for this sale can be found here. Insiders have sold 34,757 shares of company stock valued at $2,802,704 over the last ninety days. 33.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Coinbase Global by 19.8% in the third quarter. Vanguard Group Inc. now owns 12,786,266 shares of the cryptocurrency exchange’s stock worth $824,587,000 after acquiring an additional 2,110,196 shares during the period. ARK Investment Management LLC lifted its holdings in Coinbase Global by 2.9% during the 2nd quarter. ARK Investment Management LLC now owns 12,121,881 shares of the cryptocurrency exchange’s stock worth $867,321,000 after buying an additional 345,866 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Coinbase Global by 117,449.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,320,018 shares of the cryptocurrency exchange’s stock worth $809,947,000 after buying an additional 11,310,388 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Coinbase Global by 6.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,166,044 shares of the cryptocurrency exchange’s stock worth $655,830,000 after buying an additional 555,099 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its holdings in Coinbase Global by 18.5% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 8,298,784 shares of the cryptocurrency exchange’s stock worth $548,550,000 after buying an additional 1,298,374 shares in the last quarter. 45.96% of the stock is currently owned by institutional investors and hedge funds.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.